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Pinhas insurance

Protect your greatest asset - your income

How long can you keep mortgage payments or other financial obligations without your paycheck? Don’t gamble on your income. Get quote today on long and short term Disability income insurance

man in wheelchair holding tablet with his family

Should you get disability insurance?

The numbers say you should. Here are some fact that will help you decide if you need it.

25% of Americans will experience disability before retirement age

(Social security administration fact sheet)

90% of disabilities are due to sickness, only 10% are from injuries

(Council of disability awareness)

More than 50% of foreclosures are due to medical issues

(American pubic health association)

How disability insurance prices are determine?

Disability insurance policies are typically fully underwritten plans. To get a quote insurance carriers are taking under considerations the following:

 

  • Demographics: Age, gender state zip code, etc.
  • Health: Your health is a big factor when it comes to policy affordability. The healthier you are the less likely you are to file a claim.
  •  Work type: The type of work you do can impact the price. For example, insurance carriers probably taking higher risk on someone who work on roofs rather than an office employee. 
  • Financials: If you are trying to buy high paying benefit plan, the insurance company may run financial underwriting to make sure you don’t buy too much insurance. (Like, getting payed by the policy more than what your income actually is).

Things to consider when getting a quote

Disability income insurance policy has a few moving parts that you may want to count in before applying for coverage.

  • Elimination period: Also known as waiting period. This is the time you have to wait before starting to receive benefits after you submit your claim.
  • Short term VS Long term: Usually Short term is provided by employers and has a short elimination period (0-14 days) and shorter benefit length (the plan usually stop pay after six months). Long term plans has longer waiting period that starts at 30 days and the benefits can last up to retirement age.
  • How much the policy pays? Policies usually pays about 60% of your paycheck. That should amount to your take home pay.

Want to get an online quote?

Use this quote tool by powered by a trusted partner.